The share price of LTIMindtree rose by 0.98%, the highest level since October 18, but later traded flat at Rs 6,225.90 apiece. The stock has fallen 1% on a year-to-date basis, but has risen 12% in the last 12 months. Of the 42 analysts tracking the company, 22 maintain a 'buy' rating, eight recommend a 'hold' and 12 suggest 'sell'. The average 12-month analysts' consensus price target implies an upside of 3.4%.
Key takeaways:
- LTIMindtree Ltd.'s share price rose to its highest level in over a month following Citi Research's comments post an analysts' meet, praising the company's adaptation to industry changes and EBIT growth.
- Citi Research maintains a 'sell' rating on the stock with a target price of Rs 5,710 per share, implying a downside of 8.2%, due to concerns about revenue growth and margin improvement trajectory.
- The company has a revenue target of $10 billion or Rs 84,471 crore, driven by strong foundations in BFSI and technology verticals, horizontal capabilities, a marquee client base, and top-tier partnerships.
- The share price of LTIMindtree rose as much as 0.98%, the highest level since Oct. 18, and traded flat at Rs 6,225.90 apiece as of 12:04 p.m. The stock has fallen 1% on a year-to-date basis, but risen 12% in the last 12 months.